Question: Saved Help Save & Exit False Value Hardware began 2018 with a credit balance of $32700 in the allowance for sales returns account. Sales and

Saved Help Save & Exit False Value Hardware began 2018 with a credit balance of $32700 in the allowance for sales returns account. Sales and cash collections from customers during the year were $690,000 and $650,000, respectively. False Value estimates that 7% of all sales will be returned. During 2018, customers returned merchandise for credit of $25,000 to their accounts What is the balance in the allowance for sales returns account at the end of 2018? Multiple Choice O $73,300 o 548,300 o C

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